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Colliers Quarterly Yangon Serviced Apartment Market Report | Q3 2018

Since Q4 2017, no new projects were introduced. During the past four quarters, Yangon only witnessed renovation and expansion initiatives from the already existing developments. In turn, as at the end of Q3 2018, the citywide occupancy rate managed to rise above 84%. Conversely, rental rates across all unit categories have marginally

declined. While rates are already becoming competitive, Colliers still sees a vastly untapped market for lower-tier but better-quality projects. We strongly recommend developers to introduce alternative options instead which cater to most expatriates’ modest budgets. These projects can be designed with basic but functional facilities, but still offer modern comforts.